Tag Archive | “Universal Default”

Costs and Fees: Why Your Credit Card Rates Go Up?

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You should read your credit card agreement carefully. In that agreement the reasons due to which your credit card interest rate may increase must have been mentioned.


Late payments and over limit transactions are included in typical triggers, these things might be responsible for the expiration of an introductory annual percentage rate, or APR, or if the card has a variable rate then it may result in prime rate movement.

Read the Fine Print Carefully

If you have a closer look at the agreement then you may find more arbitrary rate-raising conditions buried in the fine print. If there it is stated by the bank that it can impose the penalty rate if you pay other lenders late, then what it means is that the bank practices universal default. Just if you slip-up for once with an unrelated creditor and you will have your rate skyrocket.

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Understanding Credit Card Terms (Glossary)

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It is a good way to understand credit card terms so that you may stay one step ahead. If you are able to read a credit card application and completely understand all the terms of agreement on your card you’ll be in better form to use your cards with whole responsibility and you may also avoid falling into the credit card debt trap.


Here in this article we are presenting you a glossary of the most common credit card terms that could really help you with your credit card education:

Adjusted Balance Method

Adjusted Balance method is a formula that many card issuers use for the purpose of calculating the amount of your monthly payment. During the month the payments that you made to the credit card account is subtracted from the balance, and finance charges are added on to get the adjusted balance.

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